The U.S. stock market has been open for more than an hour. Let's take a look at the situation of the U.S. stock market. At present, many people are wondering why the U.S. stock market has risen well, but the crypto market is so cold!
In terms of U.S. stocks, the Nasdaq led the gains, followed by the S&P, followed by the Dow Jones and Russell 2000.
Gold remained high and fell slightly.
The price of 10-year U.S. Treasury bonds rose slightly.
Overall, the U.S. stock market is currently mainly trading tonight's PPI data, followed by slight trading expectations of interest rate cuts.
Tonight's PPI data, the price pressure on the supply side has come down, which is good for inflation and corporate profits, so it is directly good for U.S. stocks. Although it also reduces the pressure on tomorrow's CPI and brings more expectations of interest rate cuts, the nominal probability of a rate cut in September is 100% after all.
It is worth mentioning that the nominal probability of a rate cut in September by CME, the probability of a 50 basis point rate cut will be reviewed and appreciated by more than 50%, currently 54.5%, and inflation has been effectively controlled, which is indeed conducive to expectations of a larger rate cut.
Looking at the trend of US bonds and gold, the interest rate cut is not very strong, so the current rising sentiment has not yet extended to the crypto market. However, if the risk sentiment of the US stock market is good, the crypto market will have a certain increase in the early morning or at the closing stage of the US stock market, but it will not be too much. The focus is still on tomorrow's CPI data.
I hope that this CPI can activate the crypto market's sentiment for the interest rate cut. If the interest rate cut sentiment is not hyped, and it feels that the macro narrative can directly enter the risk of a correction after the interest rate cut, it will be more troublesome, and the possibility of#BTCsprinting to 62,000 may be greatly reduced.
